Analyst
Shayan Farooq
shayan.farooq@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Entity Ratings of Kangore Traders
Rating Type | Entity | |
Current (11-Oct-21 ) |
Previous (29-Oct-20 ) |
|
Action | Withdraw | Upgrade |
Long Term | - | BBB |
Short Term | - | A2 |
Outlook | Stable | |
Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Kangore Traders
PACRA withdraws the entity ratings with immediate effect.
About
the Entity
Kangore Traders is a sole proprietorship established in 1996, 100% owned by Mr. Nawal Rai. The Chairman and Chief Executive, Mr. Nawal is a graduate from Sindh University. Kangore’s core business involves processing and trading of rice in locally and international markets. Kangore has five processing units, with a total capacity of 40 M.Tons per hour and a storage area of ~ 4 acres, located in Landhi, Karachi.